• Leveraged loan issuance totals $664.79 billion for full-year 2011
By Sara Rosenberg
New York, Dec. 30 - JPMorgan moved into the lead position on the leveraged loans league tables for December, bringing $4.399 billion in 23 deals, according to data compiled by Prospect News.
In second place was Bank of America with $4.167 billion in 21 deals, and in third was Wells Fargo with $3.894 billion in 22 deals.
For the full year, Bank of America took the lead with $115.359 billion in 386 deals, JPMorgan came in second with $109.657 billion in 319 deals, and Wells Fargo was third with $53.130 billion in 243 deals.
December saw a total of $34.484 billion of leveraged loans come to market, compared to $31.352 billion in November and $52.231 in December 2010.
Total 2011 volume was $664.786 billion, versus $425.567 billion in 2010.
The Prospect News figures cover dollar-denominated deals in the United States for borrowers with $75 million or more of bank debt outstanding. Debtor-in-possession facilities are included. Credit for deals is divided among the lead arrangers.
Year to date
2010 Comparables
| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Bank of America | 115.359 | 386 | 17.35% | 1 | 79.000 | 278 | 18.56%
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| 2 | JPMorgan | 109.657 | 319 | 16.50% | 2 | 66.080 | 214 | 15.53%
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| 3 | Wells Fargo | 53.130 | 243 | 7.99% | 6 | 25.086 | 132 | 5.89%
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| 4 | Credit Suisse | 38.143 | 130 | 5.74% | 4 | 29.553 | 101 | 6.94%
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| 5 | Barclays | 33.663 | 115 | 5.06% | 5 | 25.365 | 102 | 5.96%
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| 6 | Citigroup | 31.149 | 104 | 4.69% | 7 | 20.380 | 54 | 4.79%
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| 7 | Deutsche Bank | 30.883 | 107 | 4.65% | 3 | 33.062 | 81 | 7.77%
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| 8 | Morgan Stanley | 26.226 | 77 | 3.95% | 8 | 14.541 | 46 | 3.42%
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| 9 | Goldman Sachs | 22.669 | 71 | 3.41% | 9 | 13.783 | 50 | 3.24%
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| 10 | RBC | 16.405 | 74 | 2.47% | 13 | 7.782 | 47 | 1.83%
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| Total | 664.786 | 1232 | 425.567 | 853 |
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| Average size: | 0.540 | 0.499 |
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| Fourth quarter |
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| | | | | 2010 Comparables |
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Bank of America | 16.580 | 69 | 16.29% | 2 | 26.024 | 98 | 16.81%
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| 2 | Wells Fargo | 13.233 | 70 | 13.00% | 4 | 11.036 | 59 | 7.13%
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| 3 | JPMorgan | 12.588 | 63 | 12.37% | 1 | 26.911 | 89 | 17.38%
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| 4 | Credit Suisse | 5.189 | 25 | 5.10% | 3 | 13.620 | 41 | 8.80%
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| 5 | Citigroup | 4.247 | 17 | 4.17% | 8 | 5.902 | 17 | 3.81%
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| 6 | SunTrust | 4.123 | 21 | 4.05% | 14 | 2.948 | 19 | 1.90%
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| 7 | Barclays | 4.101 | 22 | 4.03% | 6 | 7.793 | 32 | 5.03%
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| 8 | RBC | 4.009 | 20 | 3.94% | 13 | 3.257 | 19 | 2.10%
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| 9 | Deutsche Bank | 3.738 | 21 | 3.67% | 5 | 10.582 | 20 | 6.83%
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| 10 | Goldman Sachs | 2.489 | 11 | 2.45% | 9 | 5.370 | 19 | 3.47%
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| Total | 101.755 | 251 | 154.840 | 323 |
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| Average size: | 0.405 | 0.479 |
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| December |
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| | | | | 2010 Comparables |
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| Lead | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | JPMorgan | 4.399 | 23 | 12.76% | 2 | 9.656 | 32 | 18.49%
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| 2 | Bank of America | 4.167 | 21 | 12.08% | 1 | 11.150 | 34 | 21.35%
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| 3 | Wells Fargo | 3.894 | 22 | 11.29% | 5 | 3.941 | 20 | 7.55%
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| 4 | Citigroup | 2.395 | 9 | 6.95% | 11 | 1.123 | 6 | 2.15%
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| 5 | Credit Suisse | 2.266 | 11 | 6.57% | 6 | 3.749 | 13 | 7.18%
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| 6 | SunTrust | 1.862 | 8 | 5.40% | 13 | 0.605 | 5 | 1.16%
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| 7 | RBC | 1.653 | 9 | 4.79% | 12 | 0.888 | 6 | 1.70%
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| 8 | BMO | 1.383 | 8 | 4.01% | 32 | 0.133 | 1 | 0.26%
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| 9 | U.S. Bank | 1.161 | 3 | 3.37% |
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| 10 | Barclays | 1.069 | 7 | 3.10% | 4 | 3.948 | 15 | 7.56%
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| Total | 34.484 | 85 | 52.231 | 108 |
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| Average size: | 0.406 | 0.484 |
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| Prospect News Leveraged Loan Arranger Rankings
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Criteria
• The tables include dollar-denominated deals offered in the United States and reported to Prospect News.
• Borrower must have $75 million or more of bank debt outstanding for inclusion.
• All loans are leveraged: either they are rated speculative-grade by Moody's Investors Service or Standard & Poor's or, if unrated, the interest rate margin is 150 bps or higher.
• The tables include amended and restated loans where the maturity or size is changed but not repricings.
• Offerings are included in the time period in which the bank meeting was held (if available), otherwise the earlier of settlement date or date reported to Prospect News.
• Numeric totals are for the number of deals (not tranches).
• DIP facilities are included; bridge loans are excluded.
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